Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Tuesday, July 14, 2009
Revised range estimate
Here is a five minute bar chart of today's e-mini day session. I have slightly revised my range estimate for today to 892-910 (blue rectangle). If this market is going to get close to 910 today I think it will hold midpoint support at the dotted purple line. If this support fails then I would expect a drop to 890-92 followed by a rally to 900. But in this latter case I think we would then have already seen the high for today.